New Risk • Jun 28
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (UK£12.8m market cap, or US$16.9m). Tillkännagivande • May 07
Switch Metals Plc has completed a Follow-on Equity Offering in the amount of £0.15 million. Switch Metals Plc has completed a Follow-on Equity Offering in the amount of £0.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,500,000
Price\Range: £0.1 Tillkännagivande • May 02
Switch Metals Plc has completed a Follow-on Equity Offering in the amount of £1 million. Switch Metals Plc has completed a Follow-on Equity Offering in the amount of £1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: £0.1 Tillkännagivande • Apr 30
Switch Metals Plc has filed a Follow-on Equity Offering in the amount of £0.15 million. Switch Metals Plc has filed a Follow-on Equity Offering in the amount of £0.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,500,000
Price\Range: £0.1 Tillkännagivande • Mar 28
Switch Metals plc Provides Update on Maiden Resource Estimate At Issia Switch Metals plc announced an update on the timings for the maiden Mineral Resource Estimate at the Issia Project. Resource washing programme completed for maiden tantalum Mineral Resource Estimate at Issia. Independent laboratory assays and geological modelling advancing toward publication of Mineral Resource Estimate-1. Further incremental Mineral Resource Estimate updates will incorporate previously delineated eluvial, colluvial and alluvial targets. The washing programme for the maiden Mineral Resource Estimate has been completed on time and within budget. This marks the end of the field-based work required for the initial Mineral Resource Estimate, with independent laboratory assays and geological modelling, which have been running in parallel, advancing towards publication of Mineral Resource Estimate-1 in the coming weeks. The Issia Project forms part of Switch Metals' 1,015 km² district-scale land package in south-west Côte d'Ivoire, covering a highly prospective pegmatite corridor with demonstrated tantalum and lithium mineralisation. Arethuse Geology Sarl, which prepared the Independent Competent Persons' Report on the Switch Metals project portfolio in connection with the Company's admission to AIM has been engaged to produce the maiden Mineral Resource Estimate. The Directors anticipate that the following Mineral Resource Estimates will be issued in the coming months: Mineral Resource Estimate-1: Initial Mineral Resource Estimate focused on eluvial and colluvial targets. Mineral Resource Estimate-2: An incremental update incorporating tantalum-rich eluvial and colluvial targets. Mineral Resource Estimate-3: A further incremental update focused on alluvial drainage targets. Completion of Mineral Resource Estimate-1 will represent a key milestone in advancing the Issia Project toward subsequent technical and economic studies during the balance of 2026 and, in due course, the application for a mining licence. In turn, this is also expected to support the progression of the Company's early cash flow plans. New Risk • Feb 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (UK£17.1m market cap, or US$23.1m). Tillkännagivande • Feb 12
Switch Metals plc Announces the Identification of Additional Tantalum-Rich Alluvial Targets At Its Issia Project Switch Metals announced the identification of additional tantalum-rich alluvial targets at its Issia project, following the completion of its targeted alluvial work programme. The Issia Project forms part of Switch Metals' 1,015 km2 district-scale land package in central Cote d'Ivoire, covering a highly prospective pegmatite corridor with demonstrated tantalum and lithium mineralisation. The newly identified alluvial targets sit within the Company's 112 km2 Badinikro licence, the initial focus of the Company's exploration programme, adding further near-surface upside in addition to the eluvial and colluvial targets currently being advanced toward a maiden Mineral Resource Estimate ("MRE"). Additional 7 km2 of prospective alluvial drainage basins identified, adding shallow, free-dig, near-term resource growth potential at Issia. Results are incremental to the maiden MRE underway, focused on eluvial and colluval target zones. Shallow alluvial targets are amenable to low-cost mining and processing using conventional gravity separation. Tantalum ("Ta") anomalous basins align with the interpreted 16 km-long Issia pegmatite corridor, reinforcing confidence in the geological model and hard rock pegmatite potential. Drainage basins surrounding the Kabore spodumene discovery also show elevated tantalum responses. Follow up work will include systematic pitting of 28 priority drainage basins, with the aim of delineating additional shallow tantalum resources to support early-stage cashflow development planning. The alluvial targeting programme comprised systematic pitting across all delineated drainage basins delineated at Issia, covering a total surface area of 2,763 hectares (27.63 km2). Each sample comprised a six-pan (0.042 m3) bulk sample, manually washed to produce a heavy mineral concentrate. Concentrates were analysed on-site using a portable X-ray Fluorescence device ("pXRF").antalum anomalous basins identified pXRF results have highlighted 28 priority drainage basins exceeding a technical cut-off grade of 1.5 g/m3 Ta, with elevated tantalum and niobium (coltan) values. These priority basins cover a combined area of 7.04 km2. Importantly, the most anomalous drainage basins fit within the previously interpreted 16 km-long IssIA pegmatite corridor trending northwest to southeast. This observation supports the interpretation of Issia as a district-scale tantalum system, where shallow placer mineralisation is derived from the historic weathering of tantalum-rich hard rock pegmatites located adjacent to or beneath the free-dig preliminary resource targets. Next steps The identification of these additional alluvial targets builds on ongoing near-surface work at Issia, where systematic pitting and pilot wash-plant processing are already underway in support of the maiden MRE. The follow-up programme will focus on bulk sampling and recovery tests using the Company's pilot wash plant. It will include systematic pitting across each priority drainage basin to delineate additional shallow tantalum resources and further evaluate the scale and continuity of near-surface mineralisation at Issia which will feed into the Company's early cashflow development plan. Tillkännagivande • Feb 04
Switch Metals plc Announces Spodumene Lithium Discovery At Issia Switch Metals announced the discovery of a first spodumene bearing pegmatite at its Issia Project. The discovery, named "Kabore" was made during a pitting and mapping programme near a tantalum-rich drainage basin. Lithium discovery is in addition to the near-term tantalum ("Ta") mineral resource estimate ("MRE") and early Ta cash flow development plans. Grades between 1.00% and 2.58% lithium oxide ("Li 2 O") tested on spodumene-rich zones using a portable Laser-Induced Breakdown Spectroscopy analyser (pLIBS) in multiple grab samples. Coltan occurrences showing the presence of tantalite endmember in grab samples (82% Ta) using portable X-ray Fluorescence device (pXRF) were also identified within the same discovery trench. Discovery indicates Issia pegmatites' potential for both tantalum and lithium mineralisation. Issia district-scale project covers multiple hard rock pegmatites to test for tantalum and lithium. The Kabore discovery is located within the north-west trending Issia pegmatite corridor, near previously mapped pegmatite occurrences and tantalum rich HM anomalies. Issia is located approximately four hours north of the port of San Pedro mineral port where lithium spodumene concentrate from neighbouring Mali (more than 17 hours' drive north) is currently exported. The discovery has been exposed in a 10 x 20-metre trench where multiple altered grab samples have been collected and analysed using a LIBS and pXRF analyser. Samples were immediately expedited to Thin Section Lab in Nancy, France, who confirmed the spodumene visual observations using X-Ray Diffraction (XRD) analysis for detailed mineral characterisation. Tillkännagivande • Dec 16
Switch Metals plc Announces Commissioning of Its Pilot Wash Plant At the Issia Project Switch Metals announced that commissioning of its pilot wash plant at the Issia Project has been completed and the plant is now fully operational. This milestone represents a key step in Switch's strategy to establish a scalable and ethical source of tantalum, a critical metal for the global electronics and aerospace industries, at a time when an estimated 60-70% of global supply continues to originate from the DRC and Rwanda, countries associated with increasing supply-chain risk, ESG scrutiny and traceability challenges. Pilot wash plant at Issia successfully commissioned and fully operational; Marks a transition from exploration phase to structured resource definition and early commercial validation; Supports delivery of a maiden Mineral Resource Estimate ("MRE") at Issia targeted for early 2026; Enables processing of extensive eluvial material already collected during the pitting programme; Resource target zones are well understood and initial indications are encouraging; and Assay results will be announced in batches over the coming weeks. Strategic Context: Tantalum is a critical metal used in capacitors, semiconductors and aerospace applications. It is typically produced from coltan (columbite-tantalite) mineralisation, with eluvial and alluvial coltan deposits (near-surface material concentrated by natural erosion and water transport) historically accounting for a significant proportion of global supply. Despite its strategic importance, global supply remains highly concentrated in Central Africa and is dominated by small-scale artisanal production. As downstream users increasingly prioritise traceable and conflict-free sourcing, the need for alternative supply from stable jurisdictions is becoming increasingly acute. Cote d'Ivoire is a country with a strong mining code, effective infrastructure and a track record of supporting industrial-scale mining projects. This material was stockpiled in advance of the pilot plant commissioning to allow immediate processing. The pilot wash plant, comprising a scrubber, jig and shaking table, is now processing the collected material to recover the heavy mineral concentrates. Concentrates are initially assessed using the Company's on-site X-ray fluorescence analyser (XRF) to generate rapid indicative readings for tantalum, niobium and associated heavy minerals. Samples are then submitted for independent laboratory analysis to confirm grades, maintain external verification and data integrity. This workflow allows the Company to: generate assay data for the maiden MRE; build a growing dataset to support future resource updates; and produce representative coltan concentrate suitable for bulk sampling evaluation by potential offtakers keen to assess material from new ethical supply sources. The Company will announce details of assay results in batches as they become available over the coming weeks. Resource Definition and Early Commercial Validation In addition to supporting resource estimation, the processing of bulk material through the pilot plant will provide early insight into concentrate quality, recoveries and potential commercial parameters. Coltan concentrates are typically sold at approximately 30% Ta2O5 (tantalum pentoxide) equivalent, and tantalum prices are currently reported to be in excess of USD 200,000 per tonne, reflecting tightening supply and growing strategic demand. The ability to assess recoveries and produce market-ready concentrate during the MRE process is expected to provide early technical and commercial validation while the Company continues to evaluate scale across the broader Issia district. With the pilot wash plant commissioned, part of the MRE process, the project is expected to be completed, part of the MRE, the project is expected to continue to evaluate scale across the broader Issia district. New Risk • Dec 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (UK£9.57m market cap, or US$12.7m). Board Change • Sep 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chair Didier Murcia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chair Didier Murcia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chair Didier Murcia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jun 28
Switch Metals Plc, Annual General Meeting, Jul 29, 2025 Switch Metals Plc, Annual General Meeting, Jul 29, 2025. Location: the offices of marriott harrison llp, 80 cheapside, ec2v 6ee, london United Kingdom Board Change • Jun 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chair Didier Murcia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chair Didier Murcia was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
